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Lumifer comments on Rational discussion of politics - Less Wrong
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Policies are, basically, sets of rules. Politics is a activity, a sphere of human action.
There are loops here, of course. On the one hand, policies are implementation tools of politics, on the other hand, policies can define the rules by which the game of politics is played.
I'm not sure how that is different from what I said above, except presented in a different light.